Missouri Legislature Passes Incentives Package For Potential GM Investment
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After a 27-hour-long filibuster, the Missouri House and Senate have passed an incentives package for General Motors. The automaker is rumored to have a $1 billion investment ready for the Wentzville, Missouri plant but eyed tax breaks before choosing a final investment location.
The Houston Herald reported on the incentive package on Tuesday, which would deliver GM $50 million in tax breaks. Overnight, the state’s Conservative Caucus retreated from their protest and let a vote go forward. The incentive package passed the chamber 25-8, and will now head to Governor Mike Parson, who has championed the tax breaks to retain jobs in the state.
GM Wentzville Plant
GM’s $1 billion investment appears to not be specifically related to mid-size truck or full-size van production. The automaker previously said it was in discussions with other states about funneling the investment outside of Missouri. The Wentzville plant currently builds the Chevrolet Colorado, GMC Canyon, Chevrolet Express, and GMC Savana. It’s unclear what kind of expansion GM has in store for the plant, should it ultimately decide on Wentzville for the expansion. All signs point to Missouri as the preferred state for the investment, however.
The state’s governor said the incentive package sends a clear message to GM and all other companies that Missouri is ready to compete for new jobs. The opposition believes the tax breaks are a waste of taxpayer dollars without sufficient checks and balances. The House previously passed a version that required GM to retain 90 percent of its workforce in the state, though the automaker opposed the language for obvious reasons.
It’s unclear if the expansion will immediately create new jobs, but it should retain the 3,500 positions at the Wentzville plant currently. Governor Parson also said 178 suppliers across the state would benefit from the GM investment.
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Source: The Houston Herald
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